After Realtors felt a relative slow
down and seasonal return in July and August, September felt back to the
normal red-hot speed in today’s housing market. Closed properties were
12.81 percent lower than last month at this time and a notable 19.27
percent lower than last September. With lower inventory and fewer homes,
the balance of supply and demand stayed steady, leading to another month
of competition for buyers. Months of inventory increased to .76 and
while it may not have felt like a huge increase, it gave potential
buyers a few more options.
Excluding the $0 to $99,000 homes, the most competitive market ranked in
the $300,000 to $399,999 range. This price point had 0.51 months of
inventory with a surprising 218 closed properties, showing that one can
indeed still find a single-family detached property under $400,000.
The least competitive market was attached properties over $1 million.
While there were still 56 attached properties that sold over $1 million,
the month-of-inventory for this category was 2.16, more than four times
less competitive than the $300,000 to $400,000 and the $400,000 to
$500,000 range.
The DMAR monthly report also includes statistics and analyses in its
supplemental “Luxury Market Report” (properties sold for $1 million or
greater), “Signature Market Report” (properties sold between $750,000
and $999,999), “Premier Market Report” (properties sold between $500,000
and $749,999), and “Classic Market” (properties sold between $300,000
and $499,999).
In September, the Luxury Market remained strong with a slight slowdown
that saw 501 new listings hit the market, and inventory up 4.81 percent
from one month ago and 15.17 percent year-over-year.
While the market had a little boost in inventory, 418 of those new
listings went into pending status, down 6.70 percent from one month ago,
but up 5.56 percent year-over-year. Buyers still had to move quickly as
the average days on market for a residential Luxury home was 21 days,
down 12.50 percent from one month ago, and down 58 percent
year-over-year. However, sellers didn’t mind the quick move because they
received 101.28 percent over list price, down 0.22 percent
month-over-month, but up 2.99 percent year-over-year.
The detached Luxury market saw 445
new listings, with 362 going into pending status and 383 closing in
September at 101.54 percent over list price. Meanwhile, the attached
Luxury Market saw 56 new listings pop up, 56 head into pending and 56
close. Overall, buyers had a little more negotiating power in the Luxury
attached market, with attached homes selling for 99.57 percent to list
price and within an average of 25 days.
Monthly Report is based on the
most recent previous month of MLS stats from REColorado
Source: Denver Metro
Association of REALTORS® Market Trends Committee #dmarstats
Infographics Courtesy of:
Anthony Rael, RE/MAX Alliance
Archived Denver Real Estate Market Reports
Month-end Inventory, Average & Median Sales
Prices, Days on Market (DOM), Price Appreciation, Sales Volume & More!
Archived Denver Colorado Real Estate Market Snapshots
A graphical look back at market stats and trends since
2015 : Infographics compliments of Anthony Rael
City and County Real Estate
Market Reports
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NOTES:
Interview requests from the
media should be directed to DMAR's Marketing Communications at (303)
300-8490
MLS stats are tracked in arears, so the published report is
for the previous month-end activity
The DMAR 'Premier
Market' is defined as $500,000 to $749,999
The DMAR 'Signature
Market' is defined as $750,000 to $999,999
The DMAR 'Luxury
Market' is defined as $1,000,000 and over
11-Counties:
Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas,
Elbert, Gilpin, Jefferson & Park
Research: Denver Metro
Association of REALTORS® Market Trends Committee
The DMAR Market
Trends Committee, part of the Denver Metro Association of REALTORS®,
provides timely, consistent, and relevant monthly summaries of valuable
local real estate market statistical data for both its members and the
general public. Statistics from the “Denver Metro Real Estate Market
Trends Report” provide data for the following counties: Adams, Arapahoe,
Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin,
Jefferson, and Park. Source of the reported data is REcolorado.
Stats & Infographics
Courtesy of:
Anthony Rael, RE/MAX Alliance
